Bill Summary for H 326 (2011-2012)
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TO ADOPT A MORATORIUM ON INVOLUNTARY ANNEXATIONS.Intro. by Moffitt.
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House committee substitute deletes all provisions of the 1st edition and replaces with AN ACT TO ALLOW BUNCOMBE COUNTY TO RESTRICT USE OF THE ADDITIONAL ONE-QUARTER PERCENT SALES TAX TO COMMUNITY COLLEGE CAPITAL OUTLAY PURPOSES, TO MAKE SUCH A RESTRICTION ON ANY SUCH TAX APPROVED BY THE VOTERS IN BUNCOMBE COUNTY IN 2011, TO PROVIDE FOR EXPIRATION OF THE TAX, AND TO REQUIRE A REVIEW AFTER TEN YEARS.
Allows the Buncombe County Commissioners to hold a referendum on placing restrictions on the use of the additional sales tax. Subject to a 2011 referendum approval by Buncombe County voters, provides that the 0.25% tax levied under GS 105-537 may only be used for community college capital outlay purposes and to retire indebtedness incurred by the county for such purposes, as detailed. Provides that the tax will expire 18 years after being levied. Requires a public hearing review of the tax during the tenth year of the levy.